AMTD Digital Inc.
HKD NYSE Finance Services Financials FY2020–FY2025
What AMTD Digital Inc. does
No business description yet.
- Legal name
- AMTD Digital Inc.
- Fiscal year ends
- October 31, 2025
- Latest annual report
- 20-F · Feb 27, 2026
- Accession · CIK
- 0001213900-26-021555
0001809691
Revenue and margins
AMTD Digital Inc. had $136M of revenue in fiscal 2025, up 565.7% on the year before.
Net income and earnings per share
From fiscal 2020 to 2025, diluted EPS grew 0.6% a year. Loss periods are shown in red.
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Cash flow
Free cash flow was $14.3M in fiscal 2025, 10.5% of revenue. Cash from operations minus capital spending.
Dividends, buybacks and share count
AMTD Digital Inc. returned — to shareholders in fiscal 2025. The diluted share count rose 61.1%.
Balance sheet
Cash, debt and the ratios that show how comfortably AMTD Digital Inc. can carry it.
| Fiscal year end | FY20 | FY21 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $53.6M | $14.3M | $135M | $60.9M | $46.4M |
| Debt incl. finance leases | — | — | $65.6M | $258M | $260M |
| Net debt / EBITDA | — | — | −47.3x | 4.7x | 20.2x |
| Debt / equity | — | — | 0.2x | 13.9x | 1.0x |
| Current ratio | 19.6x | 27.8x | 2.8x | 0.5x | 1.9x |
| Quick ratio | 19.6x | 27.8x | 2.8x | 0.5x | 1.9x |
| Total assets | $395M | $411M | $537M | $503M | $955M |
| Total liabilities | $22.4M | $15.1M | $159M | $344M | $352M |
| Shareholders' equity | $369M | $393M | $387M | $18.5M | $264M |
| Net debt (− = net cash) | — | — | −$69.3M | $197M | $214M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. “Plan” marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY20 | FY21 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ | ✓ | ✓ |
| Return on assets rose | — | ✓ | — | ✓ | ✓ |
| Cash from operations exceeds net income | ✕ | ✕ | ✕ | ✕ | ✕ |
| Debt fell relative to assets | — | — | — | ✕ | ✓ |
| Current ratio rose | — | ✓ | — | ✕ | ✓ |
| Share count didn't rise | — | ✕ | — | ✕ | ✕ |
| Gross margin rose | — | — | — | — | — |
| Revenue rose relative to assets | — | ✓ | — | ✕ | ✓ |
| F-score | — / 3 | 5 / 7 | — / 3 | 3 / 8 | 6 / 8 |
| Accruals ratio | 2.9% | 3.9% | 4.7% | 7.2% | 11.3% |
| Altman Z'' | — | — | — | — | — |
5 years of figures
Amounts in USD. Hover a ratio’s name for its definition.
| Fiscal year | FY20 | FY21 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Income statement | |||||
| Revenue | $25.3M | $42.2M | $48.5M | $20.4M | $136M |
| Operating income | −$0.0M | $0.6M | $0.2M | $37.0M | $1.1M |
| Pretax income | $25.3M | $28.9M | $45.3M | $42.5M | $98.7M |
| Income tax | $3.2M | $3.0M | $4.5M | $0.8M | $1.7M |
| Net income | $22.1M | $25.8M | $40.8M | $41.7M | $97.0M |
| Net income to common | $22.9M | $27.5M | $42.1M | $44.4M | $54.7M |
| Diluted EPS | $0.17 | $0.16 | $0.23 | $0.23 | $0.18 |
| Diluted shares | 0.13B | 0.19B | 0.19B | 0.19B | 0.31B |
| Cash flow | |||||
| Cash from operations | $10.7M | $10.3M | $15.5M | $4.2M | $14.4M |
| Capital expenditure | $0.0M | $0.0M | $0.0M | $0.2M | $0.1M |
| Free cash flow | $10.7M | $10.2M | $15.5M | $4.1M | $14.3M |
| Depreciation and amortization | $0.6M | $0.8M | $1.3M | $5.2M | $9.5M |
| Stock-based compensation | $0.1M | $1.1M | $0.2M | $0.1M | — |
| Acquisitions | −$2.7M | — | −$3.9M | −$9.1M | — |
| Balance sheet | |||||
| Cash and short-term investments | $53.6M | $14.3M | $135M | $60.9M | $46.4M |
| Total debt | — | — | $65.6M | $258M | $260M |
| Current assets | $342M | $379M | $451M | $84.6M | $321M |
| Current liabilities | $17.5M | $13.6M | $159M | $163M | $167M |
| Property and equipment, net | $0.0M | $0.0M | $69.6M | $274M | $293M |
| Goodwill | $7.6M | $7.5M | — | — | — |
| Intangible assets | $5.2M | $4.6M | $0.3M | $119M | $119M |
| Total assets | $395M | $411M | $537M | $503M | $955M |
| Total liabilities | $22.4M | $15.1M | $159M | $344M | $352M |
| Shareholders' equity | $369M | $393M | $387M | $18.5M | $264M |
| Margins | |||||
| Operating margin | −0.2% | 1.4% | 0.3% | 181.0% | 0.8% |
| EBITDA margin | 2.3% | 3.4% | 3.0% | 206.2% | 7.8% |
| Net margin | 87.7% | 61.2% | 84.2% | 203.8% | 71.3% |
| FCF margin | 42.2% | 24.3% | 32.0% | 20.0% | 10.5% |
| Returns | |||||
| Return on capital | — | — | 0.0% | 16.9% | 0.2% |
| Return on capital employed | −0.0% | 0.2% | 0.0% | 10.9% | 0.1% |
| Return on equity | 6.0% | 6.8% | 10.5% | 20.6% | 68.8% |
| Return on assets | 5.6% | 6.4% | 7.6% | 8.0% | 13.3% |
| Return on tangible equity | 6.4% | 7.2% | 10.9% | — | 37.9% |
| Growth | |||||
| Revenue growth | — | 67.2% | — | −57.8% | 565.7% |
| Net income growth | — | 16.7% | — | 2.1% | 132.7% |
| EPS growth | — | −4.7% | — | 1.8% | −24.1% |
| FCF growth | — | −4.0% | — | −73.6% | 250.7% |
| Share count change | — | 40.2% | — | 3.5% | 61.1% |
| Financial health | |||||
| Net debt / EBITDA | — | — | −47.3x | 4.7x | 20.2x |
| Debt / equity | — | — | 0.2x | 13.9x | 1.0x |
| Current ratio | 19.6x | 27.8x | 2.8x | 0.5x | 1.9x |
| Quick ratio | 19.6x | 27.8x | 2.8x | 0.5x | 1.9x |
| Capital allocation | |||||
| Capex / revenue | 0.1% | 0.0% | 0.0% | 0.8% | 0.0% |
| Stock comp / revenue | 0.5% | 2.7% | 0.5% | 0.4% | — |
| Quality scores | |||||
| Piotroski F-score | — | 5.0 | — | 3.0 | 6.0 |
| Accruals ratio | 2.9% | 3.9% | 4.7% | 7.2% | 11.3% |
Source: SEC EDGAR XBRL filings (CIK 0001809691). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. Per-share figures are per US-listed share (1 ADS = 0.40 ordinary shares). For information only — not investment advice. Check the original filings before relying on any figure.